CNBC reports that major companies are warning investors about coronavirus impact:
- Just shy of 20% of S&P 500 companies have warned about coronavirus effects, according to analysis of more than 180 earnings transcripts and other releases.
- Another sizable number of S&P executives said at the time of their earnings release that it was too early to tell, but promised to keep stakeholders aware.
- McDonald’s confirmed location closures in China.
- Three hundred ninety-two of the 500 S&P components have reported fourth-quarter earnings as of Friday.
Nearly one in five S&P 500 companies have said China’s virulent coronavirus will impact their revenues or profits, underscoring the far-reaching toll the disease is expected to take on businesses around the world.
A CNBC analysis of more than 180 earnings transcripts and other corporate releases since the beginning of 2020 showed a high level of concern.
While most management teams that have warned of a revenue hit said they don’t expect any impact to full-year figures, many expect a drag in the first quarter.